Any license issued by the city to any person, firm, association or corporation to engage in, exercise or pursue any business, profession, trade, occupation or privilege, may be revoked by the council after adequate opportunity for a hearing, for the following reasons:
A. The licensee is engaging in, exercising or pursuing the business, profession, trade, occupation or privilege in such a manner that he has created or is creating a "public nuisance", as defined by state law; or
B. Serious or repeated violation of the law or ordinances. (2000 Code § 9-106)